USD/CAD Bearish Momentum Below 1.2585 Suggests Continuation

2 min read
tarantula fx

tarantula fx

Head of Trading

USD/CAD Technical Analysis

  • 1.2585 break is bearish
  • Interim support 1.2600
  • MA straddling

4H Chart USD/CAD

  1. Swing 1
  2. Higher low
  3. Swing 2
  4. Start of breakout
  5. Target

The USD/CAD is still bearish. The price is straddling the moving averages and it indicates that the trend is followed towards the next support. Interim support is 1.2600. The break of support is targeting 1.2585 previous low and strong level to break. If 1.2585 breaks then 1.2530 and 1.2454 could be targets. Deeper correction only above 1.2687 – weekly resistance.

Good trading,
Nenad Kerkez

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